Investors bet on select offers
China Daily | Updated: 2009-11-13 08:57
Strong demand for a piece of a Chinese property company and a Chinese brokerage shows that select IPOs are still being coveted despite investor fatigue with the surge of new listings.
Chinese property developer Longfor Properties Co raised $912 million yesterday, pricing its Hong Kong initial public offering at the top end of an indicated range, according to two sources close to the deal.
Billionaire investor George Soros bought HK$200 million worth of shares, while the $293-billion sovereign fund China Investment Corp (CIC) also invested through the international tranche, another source said.
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